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Tencent, SoftBank Invest $1.1B In Uber Rival In India

Law360, New York (October 11, 2017, 2:40 PM EDT) -- Ola, Uber’s chief ride-hailing rival in India, said Wednesday that it has raised $1.1 billion in a new round of funding from Tencent, SoftBank and new U.S. investors, and that it plans to close an additional $1 billion in the current financing round for a total of about $2 billion.

Tencent Holdings Ltd., a Chinese internet company, led the $1.1 billion financing round in its first-time funding of Ola, while earlier investor SoftBank Group Corp. of Japan also invested in the round along with unnamed U.S....
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